Advantus Media, Inc. and QuoteInspector.com
The projected average Brent price for this year has increased to $85 from $77 per barrel, whereas WTI has been elevated to $79 from $72 per barrel.
Goldman expects that oil transport through the Strait of Hormuz will be just 5% of normal for six weeks, followed by a recovery period of one month. Consequently, the worldwide market will forfeit around 800 million barrels.
On the evening of March 22, US President Donald Trump declared that the United States would target Iranian power facilities if Tehran fails to resume shipping operations through the Strait of Hormuz in the next 48 hours.
Goldman analysts project that Brent will mean $110 per barrel in March and April, reaching a high of $135 per barrel.
They presently project a decline in oil output in the Middle East of 11 million barrels daily. Experts believe that the shortfall could rise to 17 million barrels daily.
source: reuters.com
Goldman expects that oil transport through the Strait of Hormuz will be just 5% of normal for six weeks, followed by a recovery period of one month. Consequently, the worldwide market will forfeit around 800 million barrels.
On the evening of March 22, US President Donald Trump declared that the United States would target Iranian power facilities if Tehran fails to resume shipping operations through the Strait of Hormuz in the next 48 hours.
Goldman analysts project that Brent will mean $110 per barrel in March and April, reaching a high of $135 per barrel.
They presently project a decline in oil output in the Middle East of 11 million barrels daily. Experts believe that the shortfall could rise to 17 million barrels daily.
source: reuters.com